BOSTON -- U.S. semiconductor startups and electronics companies received $2.152 billion in venture capital funding during the third quarter, an increase of 16.9% from $1.841 billion in the second quarter, according to new data released today by an investment trade group and Thomson Financial's Venture Economics unit.

The increased funding in chip suppliers and electronics companies ran counter to the overall trend in venture capital spending, which was down 7% to $25.9 billion for all industry segments in the third quarter vs. $27.8 billion in Q2, said the new report, produced by Venture Economics and the National Venture Capital Association (NVCA).

Venture capital funds pouring into Internet-related companies declined 17.6% in the third quarter, pushing down total investments, said the report. Internet-related companies--online content providers, e-commerce startups, Web sites, software and tool suppliers as well as others--pulled in $11.540 billion in the third quarter to $14.005 billion in the second quarter, said the report.

Overall, venture capitalist increased follow-on investments in companies during the third quarter compared as they assessed changes in technologies and shifts in the equity markets, said Jesse Teyes, vice president of Venture Economics. Much of the growth in follow-on investments was a result of slumping stock-market prices, which delayed planned initial public offerings (IPOs).

In the semiconductor and electronics segment, venture capitalist invested in 92 companies, according to third-quarter report. On average, these deals totaled $23.4 million, said the report from Venture Economics and NVCA. In contrast, Internet-related companies received an average of $15.16 million in venture funding during the last quarter with a total of 761 investments made in the period, the report said.

Semiconductor and electronics companies pulled in 8.3% of the total venture capital investments in the third quarter. Internet-related operations received 44.6% of the venture capital investments in the U.S., followed by communications companies, which pulled in 17.7% of VC funding, or $4.590 billion in the third quarter (an increase of 17.3% from $3.913 billion in the second quarter), said the report.